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10 things to know before the opening bell on December 12

Updated : 2019-12-12 07:45:09

Indian shares are expected to open higher on Thursday, following global markets, which were trading in the green after the US Federal Reserve held its interest rates steady. However, domestic investors could trade cautiously ahead of the inflation data which will be released later in the day. At 6:57 am, the SGX Nifty was trading 37 points or 0.31 percent higher at 11,986, indicating a positive start for the Sensex and Nifty50.

1. Asia: Asian stocks edged higher on Thursday after the Federal Reserve signalled rate settings were likely to remain accommodative but the imminent UK election and a deadline for Sino-U.S. trade talks kept investors cautious. Japan's Nikkei stock index climbed 0.11 percent and U.S. stock futures rose 0.06 percent. Australian shares were down 0.29 percent, however, weighed by the energy sector after the fall in oil prices. (Image: AP)
1. Asia: Asian stocks edged higher on Thursday after the Federal Reserve signalled rate settings were likely to remain accommodative but the imminent UK election and a deadline for Sino-U.S. trade talks kept investors cautious. Japan's Nikkei stock index climbed 0.11 percent and U.S. stock futures rose 0.06 percent. Australian shares were down 0.29 percent, however, weighed by the energy sector after the fall in oil prices. (Image: AP)
2. US: The S&P 500 and the Nasdaq indexes held on to gains on Wednesday as traders awaited the Federal Reserve's December policy statement for clues on the domestic economy's strength, while the Dow Jones index was pressured by losses in Boeing and Home Depot. The Dow Jones Industrial Average was down 48.45 points, or 0.17 percent, at 27,833.27 while the S&P 500 was up 1.95 points, or 0.06 percent, at 3,134.47 and the Nasdaq Composite was up 12.34 points, or 0.14 percent, at 8,628.53. (Image: AP)
2. US: The S&P 500 and the Nasdaq indexes held on to gains on Wednesday as traders awaited the Federal Reserve's December policy statement for clues on the domestic economy's strength, while the Dow Jones index was pressured by losses in Boeing and Home Depot. The Dow Jones Industrial Average was down 48.45 points, or 0.17 percent, at 27,833.27 while the S&P 500 was up 1.95 points, or 0.06 percent, at 3,134.47 and the Nasdaq Composite was up 12.34 points, or 0.14 percent, at 8,628.53. (Image: AP)
3. Markets At Close On Wednesday: Indian shares reversed losses in the last leg of trade to end higher on Wednesday, led by gains in IT and private bank stocks. All sectoral indices, except 2, ended the day in the green. Nifty IT rose the most, up over 1 percent Meanwhile, Nifty Metal lost 0.1 percent and Nifty PSU Bank fell 0.06 percent for the day. The Sensex ended 173 points higher at 40,412, while the Nifty50 index ended 53 points higher at 11,910. Meanwhile, the foreign institutional investors bought Rs 605 crore in the cash market while the domestic institutional investors bought Rs 240 crore. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares reversed losses in the last leg of trade to end higher on Wednesday, led by gains in IT and private bank stocks. All sectoral indices, except 2, ended the day in the green. Nifty IT rose the most, up over 1 percent Meanwhile, Nifty Metal lost 0.1 percent and Nifty PSU Bank fell 0.06 percent for the day. The Sensex ended 173 points higher at 40,412, while the Nifty50 index ended 53 points higher at 11,910. Meanwhile, the foreign institutional investors bought Rs 605 crore in the cash market while the domestic institutional investors bought Rs 240 crore. (Image: Reuters)
4. Rupee: The rupee appreciated by 7 paise to settle at a fresh one-month high of 70.85 against the US dollar on Wednesday on the back of firm domestic equities and easing crude oil prices, extending its winning run for the sixth straight session. Forex traders said the domestic unit gained ground ahead of the release of key macro-economic numbers on Thursday. At the interbank foreign exchange market, the rupee opened at 70.87 against the US dollar. During the day, the domestic unit fluctuated between a high of 70.74 and a low of 70.94. (Image: Reuters)
4. Rupee: The rupee appreciated by 7 paise to settle at a fresh one-month high of 70.85 against the US dollar on Wednesday on the back of firm domestic equities and easing crude oil prices, extending its winning run for the sixth straight session. Forex traders said the domestic unit gained ground ahead of the release of key macro-economic numbers on Thursday. At the interbank foreign exchange market, the rupee opened at 70.87 against the US dollar. During the day, the domestic unit fluctuated between a high of 70.74 and a low of 70.94. (Image: Reuters)
5. Crude Oil:  Oil prices dropped almost 1 percent on Wednesday following a surprise build in U.S. crude inventories, and as investors waited to see if a fresh round of tariffs by Washington on Chinese goods would come into force on Sunday. Brent futures settled at $63.72 per barrel, down 62 cents. West Texas Intermediate crude fell 48 cents to settle at $58.76 per barrel. U.S. crude stockpiles rose unexpectedly last week, while gasoline and distillate inventories jumped sharply higher, the Energy Information Administration said. (Image: Reuters)
5. Crude Oil:  Oil prices dropped almost 1 percent on Wednesday following a surprise build in U.S. crude inventories, and as investors waited to see if a fresh round of tariffs by Washington on Chinese goods would come into force on Sunday. Brent futures settled at $63.72 per barrel, down 62 cents. West Texas Intermediate crude fell 48 cents to settle at $58.76 per barrel. U.S. crude stockpiles rose unexpectedly last week, while gasoline and distillate inventories jumped sharply higher, the Energy Information Administration said. (Image: Reuters)
6. US Fed Keeps Rates On Hold: The US Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election. “Our economic outlook remains a favourable one, despite global developments and ongoing risks,” Fed Chair Jerome Powell said in a news conference shortly after the release of the latest policy statement and new quarterly economic projections. (Image: Reuters)
6. US Fed Keeps Rates On Hold: The US Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election. “Our economic outlook remains a favourable one, despite global developments and ongoing risks,” Fed Chair Jerome Powell said in a news conference shortly after the release of the latest policy statement and new quarterly economic projections. (Image: Reuters)
7. Government On PSBs: The Union Cabinet on Wednesday approved a partial credit guarantee scheme for public sector banks (PSBs) to purchase high-rated pooled assets from financially sound NBFCs and housing finance companies. PSBs can purchase high-rated pooled assets from financially sound Non-Banking Financial Companies (NBFCs)/Housing Finance Companies (HFCs), with the amount of overall guarantee provided by the government till the first loss of up to 10 percent of the fair value of assets being purchased by banks or Rs 10,000 crore, whichever is lower.
7. Government On PSBs: The Union Cabinet on Wednesday approved a partial credit guarantee scheme for public sector banks (PSBs) to purchase high-rated pooled assets from financially sound NBFCs and housing finance companies. PSBs can purchase high-rated pooled assets from financially sound Non-Banking Financial Companies (NBFCs)/Housing Finance Companies (HFCs), with the amount of overall guarantee provided by the government till the first loss of up to 10 percent of the fair value of assets being purchased by banks or Rs 10,000 crore, whichever is lower.
8. Cabinet Clears Insolvency Amendments: The Union Cabinet on Wednesday approved changes to the insolvency law, including a provision to ring-fence successful resolution applicants from criminal proceedings with regard to offences committed by previous promoters of a company. The amendments to the Insolvency and Bankruptcy Code (IBC) are aimed at removing certain difficulties being faced during insolvency resolution process to realise the objects of the Code and to further ease doing of business, an official release said. According to the release, the amendments would remove bottlenecks, streamline the corporate insolvency resolution process and that protection of last-mile funding would boost investment in financially-distressed sectors. (Image: Reuters)
8. Cabinet Clears Insolvency Amendments: The Union Cabinet on Wednesday approved changes to the insolvency law, including a provision to ring-fence successful resolution applicants from criminal proceedings with regard to offences committed by previous promoters of a company. The amendments to the Insolvency and Bankruptcy Code (IBC) are aimed at removing certain difficulties being faced during insolvency resolution process to realise the objects of the Code and to further ease doing of business, an official release said. According to the release, the amendments would remove bottlenecks, streamline the corporate insolvency resolution process and that protection of last-mile funding would boost investment in financially-distressed sectors. (Image: Reuters)
9. Former RBI Deputy Governor On India's Slowdown: Former Reserve Bank of India (RBI) deputy governor and former executive director at the IMF, Rakesh Mohan on Wednesday said that Indian economy is in structural slowdown since 2012. Mohan said,
9. Former RBI Deputy Governor On India's Slowdown: Former Reserve Bank of India (RBI) deputy governor and former executive director at the IMF, Rakesh Mohan on Wednesday said that Indian economy is in structural slowdown since 2012. Mohan said, "Cutting of rates won't have as much of a response. One does not know what in some sense ought to be the resting point for the rates." "Now, this is a global problem that since the North Atlantic Financial Crisis in 2008-2009, the global central banks whether it is the US Fed, the European Central Bank, Bank of Japan, Bank of England etc. have all cut rates down near zero. Of course, there has been some increase in the US Fed last year but they have had to again start cutting," he added. (Image: Reuters)
10. RBI Governor To Banks: Reserve Bank Governor Shaktikanta Das said on Wednesday that the current economic conditions may pose certain challenges to banks, and urged them to be proactive in tackling them. Speaking to heads of major state-run banks here, Das noted there has been
10. RBI Governor To Banks: Reserve Bank Governor Shaktikanta Das said on Wednesday that the current economic conditions may pose certain challenges to banks, and urged them to be proactive in tackling them. Speaking to heads of major state-run banks here, Das noted there has been "improvement" in the banking sector and it remains "resilient".
"Governor noted that there has been some improvement in banking sector and the sector remains resilient even though current economic conditions may pose certain challenges. He urged the banks to proactively tackle the emerging challenges swiftly, particularly with regard to the stressed assets resolution in a co-ordinated manner," an RBI release said. Das also discussed transmission of monetary policy rates into the banks' lending rates for final borrowers. (Image: Reuters)
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